Litecoin (LTC) Down 0.04% Friday: What's Next?

Friday, May 20, 2022 05:47 PM | InvestorsObserver Analysts

Litecoin (LTC) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Friday, the Digital Money has lost 3.74% to $68.7.

InvestorsObserver is giving Litecoin a 21 Volatility Rank. Find out what this means to you and get the rest of the rankings on Litecoin!

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Low Volatility

InvestorsObserver gives Litecoin a low volatility rank of 21, placing it in the bottom 21% of cryptos on the market.

The Volatility Gauge takes into account this makes its score defined by recent trends, rather than a bad day. LTC's low volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Litecoin price is in a favorable position going forward. With support at $63.53 and resistance set at $70.56. This positions Litecoin with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.